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Houses in These Cities Are Suddenly Major Bargains

GOBankingRates Logo By Laura Woods of GOBankingRates | Slide 1 of 16: The COVID-19 pandemic has caused a real estate surge in many parts of the U.S., creating a strong seller’s market. Record low mortgage rates, combined with a sharp decline in inventory, sent listing prices up 17% from January to September 2020, according to Realtor.com. Read: Americans’ Savings Drop to Lowest Point in Years While this is great news for sellers, it can be discouraging for buyers looking to put down roots. However, there are still plenty of cities where homes can be purchased at affordable prices. See: Surprising Ways Gen X and Millennials Are Worlds Apart Financially GOBankingRates conducted a study to find out which cities have the biggest bargains on houses. Single-family residences in those that made the list were valued above the national average of $247,282 in March 2020, but fell below the national average of $265,109 in December 2020 — as well as below the average for their state. If you’re interested in buying a house, but don’t want to pay a premium, this could be a strategic way to find your dream home. Here’s a look at the 15 largest cities to make the list. Last updated: Feb. 22, 2021

The COVID-19 pandemic has caused a real estate surge in many parts of the U.S., creating a strong seller’s market. Record low mortgage rates, combined with a sharp decline in inventory, sent listing prices up 17% from January to September 2020, according to Realtor.com.

Read: Americans’ Savings Drop to Lowest Point in Years

While this is great news for sellers, it can be discouraging for buyers looking to put down roots. However, there are still plenty of cities where homes can be purchased at affordable prices.

See: Surprising Ways Gen X and Millennials Are Worlds Apart Financially

GOBankingRates conducted a study to find out which cities have the biggest bargains on houses. Single-family residences in those that made the list were valued above the national average of $247,282 in March 2020, but fell below the national average of $265,109 in December 2020 — as well as below the average for their state.

If you’re interested in buying a house, but don’t want to pay a premium, this could be a strategic way to find your dream home. Here’s a look at the 15 largest cities to make the list.

Last updated: Feb. 22, 2021
© ucpage / Getty Images/iStockphoto
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